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Wednesday, 11 November 09
MINING ACQUISITIONS BECOMING MORE STRATEGIC - E&Y
 Mining Weekly reported that, Although miners around the world are looking to position themselves for growth, companies are being more selective when looking to acquire assets, says multidisciplinary advisory service firm Ernst & Young (E&Y).
Ernst & Young director of transaction advisory services for Africa Adrian Macartney said at a media briefing on Tuesday that acquisitions had become more strategic, with companies considering the implications of an acquisition, rather than just the possible tonnage that could be added.
“We are seeing companies taking a far more strategic approach to acquisitions in terms of what they are going to buy, and a far more detailed look at what it is they are buying.”
Macartney added that companies were also looking to understand the parameters of a project, as running over budget and ramping up the project behind schedule, was no longer an option.
“Companies are going back to looking at the parameters of a project, deciding if it makes sense, and they are spending a little more time, and putting a little more caution into understanding the project and what makes it viable.”
Companies were also looking to bring the projects to market much earlier than their previous design strategy, ramping up a three-year project over two years, or even 18-months.
“Brining a project online quicker combats two things; one is that you reduce the time in which your engineers can spend money, and two, it brings in much needed inbound cash flows.”
Macartney noted that the recently completed Ernst & Young Lessons From Change survey, indicated that around 46% of the global mining companies taking part in the survey, indicated that they would be looking to acquire assets over the next 12 months, while around 21% of companies surveyed indicated that they were looking to divest noncore assets.
He noted that the most significant reason for these divestments would be cash generation and restructuring of the company.
E&Y director of assurance Mike Herbst noted that although several companies would look to divest of their least-producing assets, miners would also have to consider selling off their more profitable assets in order to generate sufficient funds to provide capital for their other projects.
“It is not necessarily about selling your worst asset. I think that is what a lot of people often go to first is to sell their dog assets, and keep the big ones. But sometimes it is about selling one of your good assets because it will give you a good price, because what you are after is funding for your other priority assets. So it is all about selling one of your jewels to sustain your future.”
Macartney noted that the decision to divest of a certain asset could also be influenced by the company’s unwillingness to be involved in a certain geographic area, or commodities market.
He added, however, that some of the assets on the market were still over priced, and asset owners needed to come to grips with the fact that their assets would not be worth the demand price, considering the current market conditions.
Despite the increase in acquisitions, E&Y stated in its survey that few of these acquisitions would be game-changers, and the company expected to see diminished opportunities for transformational mega-deals.
However, smaller, low-risk deals were still taking place. From January to July this year, there has been 399 deals in the mining and metals sector, of which 373 were valued at less than $200-million, with an average value of $51-million.
This compared with the 903 deals, with an average value of $138-million in 2008, and 919 deals with an average value of $233-million in 2007, for the same period.
Source: Mining Weekly
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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Australian Coal Association
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
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